CHATEAU POINTE APARTMENTS
Chateau Pointe Apartments is a 40-unit apartment community in the East Point section of Atlanta, Georgia. The purchase price is $1,310,000 closed mid-August 2018. The investment was expected to generate an average cash-on-cash return in excess of 10% and an IRR above 16% upon sale in five years. We planned upgrades and renovations to the grounds and exteriors on the property, as well as renovations to the units. This enabled opportunity to create additional value by simultaneously increasing rents to market rate and reducing operating expenses.
While our renovations were still in progress, we received an offer that exceeded our projected exit price and sold in November 2021.
| Purchase Price | $1,310,000 |
| Expected Internal Rate of Return | 16.34% |
| Actual Internal Rate of Return | > 20% |